I keep hearing that real estate is a buyers market right now. Prices and mortgage rates are low, making it a great time to buy. Before you can take advantage of these great rates, though, you'll need a sizable down payment and great credit. But which of these is more important to lenders? Should you save money towards a larger down payment or use your savings to pay down your debt and thereby improve your credit score? Borrowers looking for the best rates should have a credit credit score of at least 760, advises CNBC personal finance expert Carmen Wong Ulrich. Watch this video to see Carmen explain why.

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